Cathay General Bancorp (CATY) Reports In-Line Q1 EPS

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Cathay General Bancorp Announces First Quarter 2018 Results

April 18, 2018 4:30 PM EDT

LOS ANGELES, April 18, 2018 /PRNewswire/ -- Cathay General Bancorp (the "Company", "we", "us", or "our" NASDAQ: CATY), the holding company for Cathay Bank, today announced net income of $63.8 million, or $0.78 per share, for the first quarter of 2018.  First quarter 2018 results included a $3.9 million decrease in the fair value of equity securities now recorded in the income statement as a result of the adoption of ASU 2016-01, which reduced earnings per share by $.03.

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